Feed-in-tariffs paid to wind power and other renewables producers will no longer be adjusted for inflation according to the retail price index but will use a lower measure under the new rules. The change will save around €337 million annually, although not all of this will be borne by renewables.
In addition, renewables producers will no longer be able to opt for remuneration based on the market price plus the feed-in tariff, but will be required to accept a regulated tariff, reducing remuneration for the sector by an estimated €250 to €500 million.
The Spanish government also announced its intention to approve an "exceptional loan" of €2.2 billion to finance renewable support in 2013, a move that apparently revives a previously abandoned plan to delink renewables support from electricity bills.
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